Government Support for Bank Holding Companies: Statutory Changes to Limit Future Support Are Not Yet Fully Implemented

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Testimony issued by the Government Accountability Office with an abstract that begins "GAO found that from 2007 through 2009, the federal government's actions to stabilize the financial system provided significant funding support and other benefits to bank holding companies and their subsidiaries. The Board of Governors of the Federal Reserve System (Federal Reserve Board), the Department of the Treasury (Treasury), and FDIC introduced new programs with broad-based eligibility that provided funding support to eligible institutions, which included entities that were part of a bank holding company and others. Programs that provided the most significant support directly to bank holding companies ... continued below

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United States. Government Accountability Office. January 8, 2014.

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Description

Testimony issued by the Government Accountability Office with an abstract that begins "GAO found that from 2007 through 2009, the federal government's actions to stabilize the financial system provided significant funding support and other benefits to bank holding companies and their subsidiaries. The Board of Governors of the Federal Reserve System (Federal Reserve Board), the Department of the Treasury (Treasury), and FDIC introduced new programs with broad-based eligibility that provided funding support to eligible institutions, which included entities that were part of a bank holding company and others. Programs that provided the most significant support directly to bank holding companies or their subsidiaries included Treasury's capital investment programs, the Federal Reserve System's lending programs, and FDIC's guarantee programs. Some large institutions benefited from special assistance specific to their institution."

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Government Accountability Office Reports

The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for the U.S. Congress investigating how the federal government spends taxpayers' money. Its goal is to increase accountability and improve the performance of the federal government. The Government Accountability Office Reports Collection consists of over 13,000 documents on a variety of topics ranging from fiscal issues to international affairs.

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  • January 8, 2014

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  • June 12, 2014, 7:50 p.m.

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United States. Government Accountability Office. Government Support for Bank Holding Companies: Statutory Changes to Limit Future Support Are Not Yet Fully Implemented, text, January 8, 2014; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc302836/: accessed September 23, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.